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Read Benchmark's Letter to Uber Employees Explaining Why It's Suing Former CEO ...

He issued a public statement about the lawsuit today , saying, "Like many shareholders, I am disappointed and baffled by Benchmark's hostile actions, which clearly are not in the best interests of Uber and its employees on whose behalf they claim to be acting.

It was at the same time that Travis agreed in writing to modify the company’s voting agreement to ensure that the Board was composed of independent, diverse, and well qualified directors.

Travis’s failure to make good on this promise, as well as his continued involvement in the day-to-day running of the company, has created uncertainty for everyone, undermining the success of the CEO search.

It is our hope that this lawsuit will break the past, persistent patterns of dysfunctional behavior — making it possible to create a truly independent board and hire a truly great CEO.

That was well over two months ago, and while Uber’s excellent executive leadership team is making commendable progress on these changes, many of the most important issues agreed to by the board remain unaddressed.

READ MORE (Fortune)

  • This is the most damning line in Benchmark's letter to UberCNBC
  • Uber investors accuse Kalanick of 'undermining' search for his replacementThe Hill
  • Why an Uber investor sued former CEO Travis KalanickMarketWatch
  • Uber's board in turmoil as it mulls new investment proposalsSiliconBeat
  • Uber Is Divided Into Two Factions. They're Both WrongBloomberg
  • Uber Investors Slam Travis Kalanick in Open Letter to EmployeesGizmodo
  • Axios Pro RataAxios
  • Uber's Game of Thrones Is Getting UglyVanity Fair
  • Benchmark: We should have sued Kalanick soonerTechCrunch

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Read Benchmark's Letter to Uber Employees Explaining Why It's Suing Former CEO ...


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